Enterprise-focused operator TW Telecom has completed the sale of US$800m senior notes in a private placement.
The proceeds will fund a buyback of US$430m of the Colorado-based company’s 8% senior notes due 2018. which Credit Suisse and Morgan Stanley…
Enterprise-focused operator TW Telecom has completed the sale of US$800m senior notes in a private placement.
The proceeds will fund a buyback of US$430m of the Colorado-based company’s 8% senior notes due 2018. which Credit Suisse and Morgan Stanley are managing.
It priced US$450m of 5.375% senior notes due 2022 at 96.25, and US$350m in 6.375% senior notes due 2023 at 100. At first TW Telecom said the tranches would be US$400m each.
In April it refinanced a credit agreement increasing the size of facilities, pushing out maturities, and lowering borrowing rates.
The Nasdaq-listed telco offers local and long-distance voice, VoIP, Ethernet and internet services to business clients and other operators.
